Brussels Edition: Two weeks to crack Brexit

Follow Us Get the newsletter Welcome to the Brussels Edition, Bloomberg's daily briefing on what matters most in the heart of the European Union. Only two weeks of negotiations between the EU and the U.K. remain – starting today and on June 1 – before politicians get involved again to assess whether it's worth carrying on. With the world consumed by the coronavirus crisis, officials think that the talks are fast approaching a make-or-break moment. There's been practically no change since day one on fundamental issues, most notably on conditions the bloc wants Britain to accept in return for a trade deal, on fisheries and on the role of EU courts. As video-link discussions resume, tensions are rising between the negotiators, with each side accusing the other of failing to tackle their differences. — Ian Wishart and  Nikos Chrysoloras What's Happening Virus Update | Italy may further ease restrictions earlier than planned, while new fatalities from the coronavirus in Germany, which has moved ahead with a widespread loosening of curbs on activity, were the lowest in more than a month. A further partial easing in Spain goes into effect today and France's restrictions are also gradually being lifted. Here's the latest. Macron Humbled | France may be easing its lockdown, but the pandemic has undermined Emmanuel Macron at home and abroad, leaving him casting around for a strategy. Ania Nussbaum reports on the humbling of the man who had aspired to rule like a Roman god. Presidential Predicament | With national governments reasserting their power, and the coronavirus exposing the EU's old faultlines with a new ferocity, some officials who work with Ursula von der Leyen are asking whether she's up to the job just six months in. Court Battle | The European Commission may sue Germany over its constitutional court decision challenging the ECB's monetary authority and independence. It's unclear whether such action could have a practical effect. Read more about the legal quagmire. More Stimulus | In the middle of the spat between Europe's top courts over the limits of monetary stimulus, ECB President Christine Lagarde is probably preparing to do even more. The only question is when. In Case You Missed It Creaking Open | Boris Johnson announced Britain's first steps to ease the lockdown, starting with looser restrictions on movement from Wednesday and a green light for construction and manufacturing employees to head back to work from today. The biggest labor unions demanded adequate safety measures. Slow Road to Recovery | Rather than auguring the snapback in growth touted by officials, the tentative easing of lockdowns in Europe this week looks likely to herald a tough slog – particularly as long as the pandemic remains a threat to public health. Here's why. No Bonuses | The EU unveiled state-aid rules to help nations to take equity stakes in companies or give subordinated loans to firms hit by the  pandemic – while imposing a swathe of curbs to protect taxpayers. The strings attached include a ban on dividends and bonus payments. Car Comeback | Driving has emerged as the socially distant transportation mode of choice and is offering some near-term relief to an oil market recovering from its worst crash in history. This is how the car is making a comeback.  Deadly Resort | New revelations have emerged about how the Austrian ski resort of Ischgl became a coronavirus hotspot, from which the illness spread to Europe. Here's what you need to know about the alleged cover-up of what happened in the Ibiza of the Alps. Chart of the Day The moments when Germany and the U.K. tumbled into economic freefall will be revealed this week in gross domestic product data giving an initial glimpse of the carnage to come. Those statistics for the first three months of the year show how lockdowns imposed in both countries in March caused activity to seize up before inflicting a toll on prosperity that may last years. Today's Agenda All times CET. 2 p.m. EU Parliament Committee on health and the environment holds exchange of views with Transport Commissioner Vălean on sustainable mobility post COVID-19 and developments related to CORSIA Another round of post-Brexit negotiations begins Bank of France releases economic forecasts Businesses and some schools start to operate again in France Like the Brussels Edition? Don't keep it to yourself. Colleagues and friends can sign up here. We also publish the Brexit Bulletin, a daily briefing on the latest on the U.K.'s departure from the EU.  For even more: Subscribe to Bloomberg All Access for full global news coverage and two in-depth daily newsletters, The Bloomberg Open and The Bloomberg Close. How are we doing?  We want to hear what you think about this newsletter. Let our Brussels bureau chief know.   Before it's here, it's on the Bloomberg Terminal. Find out more about how the Terminal delivers information and analysis that financial professionals can't find anywhere else. Learn more.   You received this message because you are subscribed to Bloomberg's Brussels Edition newsletter. Unsubscribe | Bloomberg.com | Contact Us Bloomberg L.P. 731 Lexington, New York, NY, 10022